Kornitzer Capital Management Inc. KS Sells 5,104 Shares of Baker Hughes Company $BKR

Kornitzer Capital Management Inc. KS cut its holdings in shares of Baker Hughes Company (NASDAQ:BKR) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 151,547 shares of the company’s stock after selling 5,104 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Baker Hughes were worth $5,810,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BKR. GAMMA Investing LLC lifted its holdings in Baker Hughes by 27.9% during the 1st quarter. GAMMA Investing LLC now owns 13,158 shares of the company’s stock worth $578,000 after buying an additional 2,872 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Baker Hughes by 34.8% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,847 shares of the company’s stock worth $3,246,000 after buying an additional 19,048 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in Baker Hughes by 71.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 30,932 shares of the company’s stock worth $1,359,000 after buying an additional 12,838 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Baker Hughes by 32.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,919 shares of the company’s stock worth $963,000 after buying an additional 5,313 shares in the last quarter. Finally, Spire Wealth Management lifted its holdings in Baker Hughes by 132.9% during the 1st quarter. Spire Wealth Management now owns 815 shares of the company’s stock worth $36,000 after buying an additional 465 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.

Insider Buying and Selling at Baker Hughes

In related news, EVP Sreeganesh Ramaswamy sold 25,000 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.00, for a total transaction of $1,250,000.00. Following the sale, the executive vice president owned 40,520 shares of the company’s stock, valued at approximately $2,026,000. This trade represents a 38.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Rebecca L. Charlton sold 1,000 shares of Baker Hughes stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the completion of the sale, the chief accounting officer directly owned 11,772 shares in the company, valued at $588,600. This represents a 7.83% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on BKR. Evercore ISI upped their price objective on Baker Hughes from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Wednesday, July 30th. Stifel Nicolaus reduced their price objective on Baker Hughes from $50.00 to $49.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Bank of America upped their price objective on Baker Hughes from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Jefferies Financial Group set a $58.00 price objective on Baker Hughes in a report on Wednesday, July 30th. Finally, Industrial Alliance Securities set a $53.00 price target on Baker Hughes in a research note on Wednesday, July 30th. Twenty-one research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Baker Hughes currently has a consensus rating of “Moderate Buy” and an average target price of $52.91.

Baker Hughes Stock Performance

BKR stock opened at $47.30 on Friday. The business’s fifty day moving average is $46.53 and its 200-day moving average is $41.73. The company has a quick ratio of 1.00, a current ratio of 1.41 and a debt-to-equity ratio of 0.33. The company has a market cap of $46.63 billion, a P/E ratio of 16.31, a price-to-earnings-growth ratio of 2.04 and a beta of 0.99. Baker Hughes Company has a twelve month low of $33.60 and a twelve month high of $50.92.

Baker Hughes (NASDAQ:BKR) last issued its quarterly earnings data on Friday, November 18th. The company reported $0.16 EPS for the quarter. The business had revenue of $5.09 billion for the quarter. Baker Hughes had a return on equity of 14.41% and a net margin of 10.43%. Equities research analysts forecast that Baker Hughes Company will post 2.59 EPS for the current year.

Baker Hughes Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 14th. Investors of record on Tuesday, November 4th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, November 4th. Baker Hughes’s dividend payout ratio (DPR) is presently 31.72%.

Baker Hughes Company Profile

Baker Hughes Company provides a portfolio of technologies and services to energy and industrial value chain worldwide. The company operates through Oilfield Services & Equipment (OFSE) and Industrial & Energy Technology (IET) segments. The OFSE segment designs and manufactures products and provides related services, including exploration, appraisal, development, production, rejuvenation, and decommissioning for onshore and offshore oilfield operations.